Tex. Insurance Code § 424.213
This is the official text of Tex. Insurance Code § 424.213, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 424.213. LIMITATION ON SALE OF CALL OPTION ON ASSETS.
Official statutory text
If an income generation transaction is a sale of a call option on assets, the insurer must, during the entire period the option is outstanding, hold, or have a currently exercisable right to acquire, the underlying assets.
Status: in_force · Read it on the official government site
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